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Market ScenarioCompanies such as market Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), General Electric (U.S.), Schneider Electric SE (France), are the leading providers of advanced metering infrastructure solution in the global market. The increasing adoption of smart grid communication that enables the utilities and energy retailers to improve energy efficiency, integrate renewable energy resources, bring down operating costs, and improves grid reliability, and others. The companies are investing in research and development of SCRUM methodology which is benefiting in smart electric and gas meters, communication hub and others. It supports remote meter data reading, remote firmware upgrade, remote load limiter, and others. The advanced metering infrastructure offers various services including advanced metering infrastructure, communication infrastructure, head end system, meter data management system, and others.
The increasing of energy generation which is gaining demand in the Advanced Metering Infrastructure Market is due to the increasing urbanization, industrialization, and growing population which is propelling advanced metering infrastructure market growth to a large extent. The growing demand for the increasing smart city and smart grid initiatives are the driving factor for the growth of the advanced metering infrastructure market. The advanced metering infrastructure solution is benefiting by centralized meter reading which reduces operational costs, enabling more frequent meter reading, remote meter control, and others. With the advanced metering infrastructure, the companies are developing the software for the smart meter deployment that enables communication with the meters to collect data. Advanced metering infrastructure solution, helps in managing the outsourcing and reducing the risk for the utility of professional operation providers in an organization.
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Key Players:
Some of the prominent players in the global advanced metering infrastructure market Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), General Electric (U.S.), Schneider Electric SE (France), Itron, Inc. (U.S.), Aclara Technologies LLC (U.S.), Elster Group GmbH (Germany), Sensus (U.S.), Tieto Corporation (Finland), Trilliant, Inc. (U.S.), Silver Spring Networks (U.S.), Siemens AG (Germany), Cooper Industries (U.S.) among others.
Market Segmentation
The global advanced metering infrastructure market is segmented on the basis of device type, service, system, and region.
Smart Electric Meters to gain popularity on account of its benefits
The device type is segmented based on smart electric meters, smart water meters, smart gas meters, and advanced communication modules and others. The segment of smart electric meters is bound to expand at a high growth rate on account of its benefits, such as gaining first-class data, reduction in cost, allowing electrical appliances to be controlled and reduce carbon emission as well.
System Integration to gain traction in coming years
The service segment comprises of system integration, meter deployment, AMI management, AMI consulting and others. The system integration market is anticipated to gain significant traction during the forecast timeframe due to the surging demand from organizations to increase the efficiency of their existing systems. The system also creates a smooth coordinated system, triggering a number of organizations to adopt these services.
Meter Data Management (MDM) solutions segment is projected to observe the most promising growth
The system type is segmented into meter data analytics, meter data management, communication infrastructure and AMI security and others. The MDM solutions segment is anticipated to grow at the highest growth rate owing to the large amount of data generated and being crucial for the user. AMI services enable smarter and coordinated decision-making by mitigating the risks of the AMI infrastructure by using efficient tools and techniques.
Regional Outlook
The regional analysis of the global market is segmented into North America, Europe, Asia Pacific (APAC), and rest of the world.
North America grabs maximum market share
North America is presumed to have captured the largest market share and would lead the AMI market from 2017 to 2023. The burgeoning market size is the result of growing demand for energy forcing utilities to upgrade the electric and distribution network. In addition, the financial soundness of companies also allows them to invest heavily in the leading tools and technologies for effective energy consumption in the region. Further, Latin America offers promising growth opportunities on account of large-scale infrastructure development.
The advanced metering infrastructure market in Europe enjoys massive demand owing to the increasing adoption of smart grid technology. The United Kingdom has been one of the forerunners when it comes to promoting the adoption of integrated solutions for smart metering. Moreover, this technology helps the borough residents take complete control of resources through AMIs, proving to be instrumental in driving the adoption rate of AMIs in the region.
APAC is projected to surge at the highest CAGR on the back of preference for smart grids architecture, increasing need for energy management, several technology upgrades, and regulatory mandates. Plus, increasing consumer awareness about energy wastage will propel the adoption of advanced metering infrastructure in the region.
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Intended Audience
• Advanced metering infrastructure companies
• Advanced metering infrastructure providers
• Technical universities
• System integrators
• Managed Security Service Providers
• Professional service providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators
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Organization: Market Research Future
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Release ID: 448750